HomeMy WebLinkAbout1244upon the award rendered by the arbitrators may
be entered in any court of competent jurisdiction.
The expense of the arbitration shall be paid by
Che purchaser.
(2) The purchase price shall be paid in
cash.
(3) The sale shall be closed within thirty
(30) days after the delivery or mailing of said
agreement to purchase~ or wiChin ten (10) days
after the determination of the sale price if
such is by arbitration. whichever is the later,
subject to a reasonable time extension to permit
title examina~ion by the Purchaser.
(4) A Certificate of the Association
executed by its President, or any Vice President,
and Secretary, or any Assistant Secretary, and
approving the purchaser shall be recorded in the
Public Records of St. Lucie County. Florida, at
the expense of the purchaser.
(S) If the Association shall fail to
provide a purchaser upon the demand of the unit
owner in the manner provided, or if a purchaser
furnished by the Association shall default in his
agreement to purchase, then notwithstanding the
disapproval, the proposed transaction shall be
deemed to have been approved and the Association
shall furnish a certificate of approval as elsewhere
provided which shall be recorded in the Public
Records of St. Lucie County, Florida, at the
expense of purchaser.
c. Lease or Mort a~e. If the
transaction is a lease or mortgage,
shall be advised of the disapproval
lease or mortgage shall not be made.
proposed
the unit owner
in writing, and the
d. Gifts, Devise or Inheritance; Other Transfers.
If the unit owner giving notice has acquired his title
by gift, devise or inheritance, or in any other manner
then within thirty (30) days after receipt from the
unit owner of the ~otice and information required to
be furnished, the Association shall deliver or mail
by certified mail to the unit owner an agreenent to
purchase by a purchaser approved by the Association
who will purchase and to whom the unit owner must sell
the unit upon the following terms:
(1) The sale price shall be the fair
market value determined by agreement between
the seller and purchaser within thirty (30)
days from the delivery or mailing of such
agreement, and in the absence of such agreement
by arbitration in accordance with the then
existing rules of the American Arbitration
Association who shall base their determination
upon an average of their appraisals of the
unit; and a judgment of specific performance
of the sale upon the award rendered by
Che arbitrators may be entered in any court of
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~ MEILIWEIL. MELROSE 6 DEWOIF, N~NTH FLOOfi. ~401 BRICKELL AVENUE, MIAM1. FLORIDA 33131 • TELEPHONE ;305) 373-7571
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